Markets
President of $4,250,000,000 Investment Firm Says Crypto Markets Still Have ‘A Nice Way to Run’ – Here’s Why
The president of a multi-billion dollar investment firm says the digital asset market still has a long way to go.
In a new one interview with Bloomberg, 21Shares co-founder and president Ophelia Snyder says cryptocurrency markets are still in their infancy despite having a combined market capitalization of $2.6 trillion.
“[Our] The short-term perspective is that it’s still very early days, which is something I think people are forgetting right now [because] are seeing massive assets flow into US products, some of the most successful exchange-traded fund (ETF) launches of all time…
It’s still very early. Most institutions [are] not yet in space. Most intermediaries [are] they still don’t invest in space. That’s still a lot of money for early adopters, meaning the market still has a long way to go. And we are still early in our innings from our point of view.”
21Shares, along with other financial giants, have made their bids to create the Bitcoin spot market (Bitcoin) ETFs approved by the U.S. Securities and Exchange Commission (SEC) in January, bringing billions of dollars inflows to the cryptocurrency king.
Now the company is waiting for the regulator’s decision on Ethereum-based ETFs (ET), the second largest digital asset by market capitalization, after it modified its application. According to Snyder, ETH ETFs will likely be approved, but will be less successful than BTC ETFs.
“I think ETH will be less successful than [BTC]? YES. But I would also say that any equity ETF that launches in the next 18-24 months will also be less successful…
Aether is a little more complicated. I think one of the other things that’s different about Ethereum is that there’s been a lot less investor education. People have been talking about Bitcoin for a long time and have been informing investors for a long time.
Ether is simultaneously more complicated to explain, more complicated to understand and also just that less effort has been made to do so in the last 5-10 years.”
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